Five steps to owning a home

Hi, I'm Sean Humphries with Dominion Lending Centres Edge Financial I want to talk to you today about five steps to take to buy your own home

So the first thing you want to do is make sure that your credit is in great condition So pay your bills on time Pay your credit cards and don't over utilize those cards So if it looks like you are using or living using your credit, that's going to have a negative effect on your credit score and it's going to affect how much that you can borrow on your mortgage Second thing you want to do is save your down payment

Make sure that you've got at least 5% down on a property here in Canada And that can come from your RSPs, from your savings, maybe you take it from your investments, as well as a gift from a direct family member So mother, father, children, sister, brother and grandparents – all make sense for a gift here in Canada Third thing you can do is figure out how much you can afford Now you can use those mortgage calculators online but I always find that there's something different about every single one that you put in

And how do you really know if you're making the right decisions? So the alternative to that is maybe reach out to a Dominion Lending Centres Edge Financial Mortgage Broker, like myself, and we'd be able to help you by guiding you through all the different variables that go into making how much you can afford on your home Fourth thing you can do is to make a really clear list of all the items that you need to have in a home Maybe you want to be able to walk to work or maybe you want to be close to transit or shopping So make that list and then as well, a list of the things that would be pretty nice to have And maybe a couple on the dream board list, as well

And fifth overall is you're going to buy with your head and also with your heart So do the preparation, be plan – make all the plans for what you really want to have but then you're going to fall in love with a house and that's okay So fall in love with that house that feels like the right one for you and then we can help you get the mortgage financing for it I'm Sean Humphries If you'd like some help, reach out to me at SeanHumphries

ca and I'd be happy to help you with a mortgage pre-approval and getting you into your new home Thanks so much